Sebastian Hakalits | Post Courier | March 06, 2017
THE Autonomous Bougainville Government should not accept the K1 billion projected offer by Bougainville Copper Limited to them if the mine is fully operational by 2020, says Francis Hurahura of Arawa.
He said the ABG should counter this offer by asking BCL to get a percentage based on the value of every shipment.
He suggested ABG request 10 per cent of the value of every shipment which would mean a fairer deal and based on price movements as well.
“We need to know what production and export target BCL is forecasting and this has to be based on various minerals that is deposited at the Panguna mine and we must remember that BCL never revealed to Bougainvillean’s that gold was present and was one of the major deposits up until today, but the people only knew that copper was being mined,” Mr Hurahura said.
“The feasibility and environmental studies must be conducted by an independent body.”
Mr Hurahura said Bougainville has petroleum engineers, mining engineers and so on and therefore ‘we must engage our own professionals to get well informed advice and all this must not be rushed adding that the projected date of 2020 to begin mine operation is unwise.’
He said ABG was given 36 per cent share and landowners 17 per cent with no real value and this was a “Catch 22 Offer” and “now they are saying, you invite me I will operate the mine and then you will see value of your shares.”
“We should not fall for this.”